This entry was posted on Wednesday, January 11th, 2012 at 8:57 am and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Tocom rubber futures settle 1.9% higher after rising sharply in the last hour of trade, tracking crude-oil prices. “The gains in crude triggered a rash of short-covering in Tocom rubber,” says Kaname Gokon, deputy general manager of Tokyo-based Okato Shoji; he adds that Tocom may rise to Y280/kg this week after prices settled above Y272/kg, which previously served as “strong” resistance, on Tuesday. Benchmark June rubber settles Y5 higher at Y272.9/kg, near the intraday high of Y273/kg.
Source: Dow Jones